CUET Accountancy - On the Death of a Partner, which account is debited for his/her share of profit for the intervening period, i.e., the period from date of the last balance sheet till the date of the partner's death: | PYQs + Solutions

CUET Accountancy 2025 13 May Shift 1

Partnership

Medium

Profit and Loss account

Profit and Loss suspense account

Old partner's capital account

Deceased partner capital account

✅ Correct Option: 2

Related questions:

24 May Shift 1

In case there is no information regarding the acquisition of a share in profit of the retiring/deceased partner by the remaining partners, the assumption is that they will acquire his/her share in the:

29 May Shift 2

On the retirement of an existing partner, an increase in the value of a liability will be credited to :-

24 May Shift 1

A, B and C are partners sharing profits in the ratio of 3:2:1. A retires and his share is taken up by B and C in the ratio of 3:2. Calculate the new profit sharing ratio.

CUET Accountancy 2025 13 May Shift 1 PYQs

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